DiaTech Oncology to Invest $2.7 Million to Expand Franklin, TN Operations Creating 39 New Jobs

Tennessee Economic and Community Development Commissioner Bill Hagerty along with DiaTech Oncology officials announced today the company will expand operations in Franklin, Tenn. DiaTech’s investment of $2.7 million will create 39 new positions over the next two years in Williamson County.

“Tennessee is a top state when it comes to research and development expenditures, and we are focused on leveraging our remarkable R&D assets, along with our strengths in the health care industry, to attract innovative companies like DiaTech to locate and expand in our state,” Hagerty said. “I appreciate DiaTech for their investment in Williamson County that will not only benefit our citizens and economy, but cancer patients and physicians worldwide.”

“DiaTech is pleased to begin its first U.S. laboratory operation in Franklin, Tennessee,” DiaTech Oncology President Garry Latimer said. “This laboratory is under development with a planned opening of its specialized ‘Correct Chemo Assay’ cancer testing facility in early 2014.”

“DiaTech’s test is the only test on the market that reveals to the treating oncologist the most effective chemotherapy for inducing cell death in the malignant cells of a particular cancer patient. As our clinical studies show, DiaTech’s test can guide therapy in individual patients,” DiaTech Oncology Chief Medical Officer Cary Presant, M.D., said.

Offering patient-specific chemotherapy testing, DiaTech helps oncologists determine the best cancer treatment plans for their patients. The company uses a patented technology called Microculture Kinetic (MiCK) assay which measures cell death induced in a specific patient’s cancer cells by chemotherapy. The analysis, which has been used successfully in more than 50 different tumor types, is the only test on the market that evaluates the chemotherapeutic drug effect for a specific patient and can tell which chemotherapy drugs are most effective.

“I am thrilled DiaTech has selected Williamson County as the location for their first U.S. lab operation in the United States,” Williamson County Mayor Rogers Anderson said. “Williamson County has been focused on developing the life sciences sector for years, and DiaTech’s investment in our community is a direct result of hard work by a number of community leaders.”

“Health care is one of the foundational economic sectors in Williamson County,” Williamson County Chamber of Commerce President and CEO Matt Largen said. “DiaTech’s laboratory operation will help us diversify the health care sector by capturing the increasingly important research and development component. I am thankful DiaTech selected Williamson County and look forward to partnering with them to grow their presence here.”

The 39 new jobs include technical staffing positions for medical technologists with extensive experience in isolation, purification and culturing of tumor cells from human tissues, diagnostic multiparameter flow cytometry, and histology and immunohistochemistry. To apply, please forward your resume to career@diatech-oncology.com.

About DiaTech Oncology
DiaTech Oncology, based in Nashville, Tenn., is a life sciences and clinical pathology laboratory company that offers patient-specific chemotherapy testing to help oncologists determine the best cancer treatment plans for their patients. DiaTech utilizes a patented technology called the Microculture Kinetic (MiCK) assay, which measures apoptosis (cell death) induced in a specific patient’s cancer cells by chemotherapy. The only test on the market that evaluates the chemotherapeutic drug effect for a specific patient and can tell which chemotherapy drugs are most effective, the MiCK assay has successfully tested all types of cancer. The MiCK assay is also used to determine the effectiveness of new drugs in preclinical trials for the pharmaceutical industry. Visit us at www.diatech-oncology.com.

DiaTech Oncology Receives New York State Clinical Laboratory Permit

DiaTech Oncology, a life sciences and clinical pathology laboratory company based in Nashville, Tenn., today announced that the company has received a Clinical Laboratory Permit from the New York State Department of Health (NYS DOH). DiaTech’s  predictive assay test — which  guides the treating oncologist to the most effective chemotherapy for inducing cell death in the malignant cells of a particular cancer patient — is  now available to patients and physicians in all 50 states.

In clinical trials and published research, use of DiaTech Oncology’s test — the MiCK® assay or Correct Chemo® — has consistently shown an increase in complete or partial response rates, longer time to relapse and a trend to longer survival times for more than 50 types of cancers, including lung, breast, colorectal, stomach, prostate, liver, ovarian, esophageal, bladder, non-Hodgkin lymphoma, leukemia and other cancers.
“New York State has the most stringent requirements for laboratory test approval in the United States,” says Garry Latimer, DiaTech CEO. “Receiving this permit is great news for cancer patients. It affirms that our CAP-accredited, CLIA-certified laboratory meets the highest standards for accurate and reliable clinical laboratory services.”
”DiaTech’s predictive assay — the only test on the market that guides the treating oncologist to the most effective chemotherapy for inducing apoptotic cell death in the malignant cells of a particular cancer patient — is now available to more cancer patients and oncologists than ever before,” states Dr. Cary Presant, DiaTech Chief Medical Officer. “Our clinical studies consistently reveal that patients treated with MiCK assay-guided chemotherapy demonstrate longer survival times and lower costs, and our studies are continuing to produce unexpected new leads for innovative therapeutic strategies.”
DiaTech’s patented MiCK assay measures apoptosis, or cell death, in the cancer cells of chemotherapy patients. Tumor cells are exposed to multiple doses of several chemotherapeutic drugs, either as single drugs or combinations. An algorithm monitors and computes the amount of cell death and determines a drug sensitivity “score” of the patients’ tumor cells.
 
About DiaTech Oncology
DiaTech Oncology, based in Nashville, Tenn., is a life sciences and clinical pathology laboratory company that offers patient-specific chemotherapy testing to help oncologists determine the best cancer treatment plans for their patients. DiaTech utilizes a patented technology called the Microculture Kinetic (MiCK) assay, which measures apoptosis (cell death) induced in a specific patient’s cancer cells by chemotherapy. The only test on the market that evaluates the chemotherapeutic drug effect for a specific patient and can tell which chemotherapy drugs are most effective, the MiCK assay has successfully tested all types of cancer. The MiCK assay is also used to determine the effectiveness of new drugs in preclinical trials for the pharmaceutical industry. Online: www.diatech-oncology.com

DiaTech Oncology Announces Capital Raise of $18 Million

DiaTech Oncology, a privately held life sciences and clinical pathology laboratory company offering patient-specific cancer testing, announced today that it has completed an $18 million equity capital raise.

DiaTech Oncology’s predictive test – the MiCK® assay or Correct Chemo™ – reveals which chemotherapy agent, or combination of agents, will kill the cancer cells of a specific, individual patient prior to treatment. DiaTech’s test helps oncologists determine the best treatment plans for their patients and has shown significantly positive results and improved survival for more than 50 different types of cancer.

The proceeds of the offering will primarily be used to develop additional laboratories to support DiaTech’s rapid growth, as well as to expand relationships with payors and research programs with institutional and academic partners.

“We are excited to announce this funding and pleased with the investor response to our offering,” says Andy Miller, DiaTech Chairman. “This capital provides us the opportunity to accelerate our efforts in serving patients and physicians on the front line in the fight against cancer.”

The patented MiCK assay measures apoptosis, or cell death, in the cancer cells of chemotherapy patients. Tumor cells are exposed to multiple doses of several chemotherapeutic drugs, either as single drugs or combinations. An algorithm monitors and computes the amount of cell death and determines a drug effectiveness “score” for each drug and combination against the patients’ own tumor cells. The oncologist then recommends the drugs or combinations that are most effective in killing the cancer.

“DiaTech’s test is the only test on the market that reveals to the treating oncologist the most effective chemotherapy for inducing cell death in the malignant cells of a particular cancer patient. As our clinical studies show, DiaTech’s test can guide therapy in individual patients, leading to longer survival times and lower cost,” says Cary Presant, M.D., DiaTech Chief Medical Officer.

About DiaTech Oncology
DiaTech Oncology, based in Nashville, Tenn., is a life sciences and clinical pathology laboratory company that offers patient-specific chemotherapy testing to help oncologists determine the best cancer treatment plans for their patients. DiaTech utilizes a patented technology called the Microculture Kinetic (MiCK) assay, which measures apoptosis (cell death) induced in a specific patient’s cancer cells by chemotherapy. The only test on the market that evaluates the chemotherapeutic drug effect for a specific patient and can tell which chemotherapy drugs are most effective, the MiCK assay has successfully tested all types of cancer. The MiCK assay is also used to determine the effectiveness of new drugs in preclinical trials for the pharmaceutical industry. Online: www.diatech-oncology.com